A brief introduction to the weekly market of the h

2022-08-11
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A brief description of the weekly market of China Plastics spot PP (September 24 - September 28)

this week, China's plastic price index rose first and then fell. After a week, it rose from 1256.39 at the beginning of the week to 1258.20 on Friday, up 1.81 points from the beginning of the week and 0.18 points from the same period last week. This week, the China Plastics spot index was dominated by gains, which was shaken and consolidated from 1225.58 at the beginning of the week to close at 1227.60 on Friday, up 2.02 points from the beginning of the week and 2.36 points from the same period last week

I. review of upstream information:

international crude oil fluctuated sharply this week. The threat of the storm was lifted, and the decline in demand led to the decline of crude oil, but then the fund bargain hunting, tight crude oil supply, and the weakening of the US dollar led to a sharp rise in crude oil. Due to the lack of new information on Friday, oil prices took profits. At present, WTI crude oil is $81.66/barrel, up $0.04 from the same period last week; Brent crude oil was $79.17/barrel, down $0.13 from the same period last week

II. Market Review:

this week, the domestic PP market straddles the Mid Autumn Festival of conditional yield limit or conditional yield strength, and is approaching the national day. The market at a special time seems reasonable to continue the downturn pattern. The quotation was basically flat, and the atmosphere of inquiry and transaction was as flat as the lake. What makes a little waves is the torsional strength of the special pipe materials market in North China and a small number of popular varieties in some regions -- when the data become submissive. The general material market in China is calm and the blue waves are all right. The recent scarce supply of special materials for pipes in the market around Yanshan has led to a slight rise in prices, while the general materials market continues to be suitable for the compression test and bending test of cement mortar samples and concrete samples (suitable range is required); The software meets gb/t 232 (1) 999 and is suitable for zigzag experiments of metal materials. Traders are indifferent to entering the market, and the weak pattern of the market wants to become weak. The supply of wire drawing in North China is indigestible, and the supply is relatively sufficient, which leads to the contract households suffering from the volume. The average output in Tianjin is mainly, and some are upside down. The supply of goods in the East China market is relatively acceptable, the demand is stable, and the weak transaction situation continues, but the mentality has little expectation on the market. South China is calm and the market rhythm is slow. Sinopec has no intention to adjust the price for the time being, and there is no obvious sign of improvement in downstream demand. The overall weak and stable market pattern this week is stable and distinct

this week, the PP raw material market in Yuyao China plastic city was basically stable, and the upside down shipment situation ended. The National Day fell, and the small-scale goods preparation in the downstream did not stimulate market demand. Traders were also tired of operation, and the market wait-and-see atmosphere was strong. The overall supply of goods in the market is not large, and some businesses want to take the opportunity to increase prices. Due to transaction restrictions, the effect is not good, and only a few brands are in short supply, and the quotation rises. The market lacks strong power to support, traders have a poor mentality, are unable to operate before the festival, and lack confidence in the market after the festival

situation in other regions last month: the wire drawing quotation in Dalian market this week was stable at about 11800 yuan/ton; The quotation of Maoming wire drawing T30S in Chengdu market is about 12000 yuan/ton; The quotation of wire drawing T30S in Wuhan market is 11900 yuan/ton; The supply of drawing T300 in Shanghai market is sufficient, ranging from yuan/ton; The Central Plains T30S in the surrounding markets of Central Plains does not include tax, which is upside down at yuan/ton or even lower; The quotation of Yangzi wire drawing F401 in Nanjing market is about RMB/ton; The quotation of wire drawing T30S in Guangzhou market is stable at 12050 yuan/ton; The price of wire drawing T30S in Shunde market excluding tax is about 11470 yuan/ton

trends of domestic manufacturers: Sinopec was basically stable this week; In terms of PetroChina, the ex factory price of Dalian organic was reduced by 100 yuan; The ex factory price of Fushun Petrochemical wire drawing was reduced by 160 yuan; CNPC North China wire drawing implements the listing policy. In addition, the ex factory price of Yan'an refinery increased by 50 yuan; Shanghai Secco reduced the export price of traders by yuan/ton. In terms of devices, Liaoyang Petrochemical PP device plans to start shutdown and maintenance on July 10, and it plans to start up at the end of October; The PP plant of Qianguo refinery was shut down on July 15, and the start-up plan was postponed again after the national day; Daqing Refining and chemical PP plant began trial operation for a week on September 20; Daqing Petrochemical and Refining & Chemical Co., Ltd. have unstable operation of PP units this week, and Refining & Chemical Co., Ltd. plans to shut down in the near future

III. trend forecast next week:

the market is about to enter the national day after the Mid Autumn Festival, and it is difficult for the market to return to the normal trading atmosphere. At present, most businesses have not paid much attention to the market trend before the festival, and they are indifferent to PP recently. From a macro perspective, up to now, the supply and demand fundamentals of the market are still in a situation of excess resources; At the micro level, the long-term low position operation of middlemen has led to the situation that there is not much negotiable stock in the market, but poor demand is also the biggest obstacle to the market. Besides, it is also an important feature of the current market that popularity cannot be condensed. Most of the prospects of PP market have no good expectations. Most of them focus on where the market will go after the festival. Their views are slightly different, and some continue to wait and see, waiting for opportunities; There are also a few who have lost confidence. Personally, I believe that under the premise of Sinopec's price stabilization, the market will not be able to respond in a short time, and the pattern of stabilization and consolidation will continue for some time

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